A) The financial performance of the business
B) The financial performance and the financial position of the business
C) The financial position of the business
D) The cash flow of the business
E) None of these
Correct Answer: C
Solution :
The Balance sheet, also known as a "statement of financial position," shows the financial position of the firm at a point in time. The left side of the balance sheet shows the resource the company (assets), whereas on the right side, it shows how these resources have been funded. By definition, the funding is either by the owners (equity) or by others (liabilities).
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